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. you addressed the issue of what happens next, i saw you on rachel's show friday. your theory are it's key to how the fiscal cliff plays out. explain. >> there's a significant difference of opinion in the political ramification of what happens if we go over and it comes down debt ceiling. if we go over the fiscal cliff they have all of the leverage because we'll go into the debt ceiling and it will be just like 2011 again. they'll say we're not going to raise the debt ceiling unless you cut entitlements, barack obama will say no and terrified of consequences of national default he'll say yes. so they'll get all of the entitlement cuts with no tax increases on the table. democrats disagree. they will not, under any circumstance, no matter what republicans do, negotiate over the debt ceiling again. they'll break the habit now. if we go to the debt ceiling they'll say we're not talking about this, if you want to have a deal on entitlements, that will have to be matched one to one with tax increases, again, with tax reform. if they do that say democrats get $600 billion in tax increases
a republican will cut it again. host: rachel in texas. caller: hello. i have two questions to ask. the expense it cost them to move overseas? can that be used as a deductible? our representatives are part of the 47%. what does that cost the taxpayers in taxes? what part of our taxes is paid in their insurance? guest: the answer to the first businessess that this are supposed to deduct all other expenses and that could include closing down a factory and opening up a factory overseas. it will include anything. so democrats have proposed a little change to the tax law which would prevent companies from being able to do that but it would raise that much money, unfortunately. i'm sorry about the other question about health insurance for lawmakers. host: thomas in winter park, florida. caller: good morning. thank you for taking my call. the current tax code is a descendant of the 16th amendment which says that congress should have the power to lay and collect taxes. if we eliminated the holding period for the sale of a capital asset, what do you think that would provide in terms of a taxable amount?
house -- what it is like to be a teenager in the white house. each night this week, c-span2/ . rachel swann on president obama's genealogy. and a biography of barack obama. at 1055 p.m., edward klein takes a look at president obama before and after he reached the white house. and the first official white house videographer from 2009- 2011. all this on c-span2. >> we have discovered that with our surveillance flights. quarantine around cuba. a soviet submarine was found by american ships and they start to drop missile charges, depth charges on the soviet submarine and knocked out electrical system. the carbon dioxide was rising. people were passing out inside the submarine. they have no communication. the commander says, love the torpedoes. let's attack. we're not going to do somersaults down here. we're not going to disgrace our country. they set it free to launch. fortunately the other commander talked about it. arkopov might have saved the world. >> it was one of the scariest moments. >> a moment in human history. >> we did not know this, we were teenagers. that is when all this cri
Search Results 0 to 2 of about 3

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